MIRA INFORM REPORT
|
Report Date : |
04.10.2011 |
IDENTIFICATION DETAILS
|
Name : |
ABDUL AZIZ HAMED AL SALEH SPC |
|
|
|
|
Registered Office : |
Shop No. 7027, Road
164, Block 307, Zubara Avenue, Ghudibya Area, P O Box 725, Manama |
|
|
|
|
Country : |
Bahrain |
|
|
|
|
Financials (as on) : |
31.12.2010 |
|
|
|
|
Date of Incorporation : |
07.02.1987 |
|
|
|
|
Com. Reg. No.: |
790-1, Manama |
|
|
|
|
Legal Form : |
Single Person Company |
|
|
|
|
Line of Business : |
Import, wholesale and retail of pipe fittings and plumbing materials |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
US$ 175,000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment
Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31st, 2011
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
|
Bahrain |
a2 |
a2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
SUMMARY
Company Name : ABDUL AZIZ HAMED AL SALEH SPC
Country of Origin : Bahrain
Legal Form : Single Person Company - SPC
Registration Date : 7th February 1987
Commercial Registration Number : 790-1, Manama
Chamber Membership Number : 374
Issued Capital : BD 850,000
Paid up Capital : BD 850,000
Total Workforce : 16
Activities : Import, wholesale and retail of pipe fittings and plumbing materials.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 175,000
Person Interviewed : Temoty D’Souza, Commercial Manager
COMPANY NAME
ABDUL AZIZ HAMED AL
SALEH SPC
company ADDRESS
Registered &
Physical Address
Location : Shop No. 7027, Road 164, Block 307
Street : Zubara
Avenue
Area : Ghudibya Area
PO Box : 725
Town : Manama
Country : Bahrain
Telephone : (973-17) 250520 / 256552
Facsimile : (973-17) 276652
Email : alsaleh@batelco.com.bh
Premises
Subject operates
from a small suite of offices and a showroom that are rented and located in the
Central Business Area of Manama.
KEY PRINCIPALS
Name Position
·
Hamed Abdul Aziz Al Saleh Managing
Director
·
Mishal Hamed Abdul Aziz Al Saleh General
Manager
·
Temoty D’Souza Commercial
Manager
·
Abdul Rasheed Moos Financial
Controller
LEGAL FORM & OWNERS
Date of Establishment : 7th
February 1987
Legal Form :
Single Person Company - SPC
Commercial Reg. No. : 790-1, Manama
Chamber Member No. : 374
Issued Capital : BD 850,000
Paid up Capital : BD 850,000
Name of Shareholder
(s) Percentage
·
Hamed Abdul Aziz Al Saleh 100%
OPERATIONS
Activities: Engaged in the import,
wholesale and retail of pipefittings and plumbing materials.
Import
Countries: India,
Australia, United Kingdom and the United Arab Emirates.
International
Suppliers:
·
Crane & Field Australia
·
Iplex Ltd Australia
·
Conex Universal Ltd United
Kingdom
·
Modern Plastic United
Arab Emirates
Operating Trend: Steady
Subject has a
workforce of 16 employees.
FINANCIAL DATA
Financial
highlights provided by local sources are given below:
Currency: Bahraini
Dinar (BD)
Year
Ending 31/12/09: Year Ending
31/12/10:
Total Sales BD 1,410,000 BD 1,675,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
·
Al Ahli
Commercial Bank
Government Avenue
PO Box: 5941
Manama
Tel: (973-17) 244333
Fax: (973-17) 241301
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
During the course
of this investigation nothing detrimental was uncovered regarding subject’s
operating history or the manner in which payments are fulfilled. As such the
company is considered to be a fair trade risk and the above credit figure is
within subject’s financial means.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.42 |
|
UK Pound |
1 |
Rs.76.72 |
|
Euro |
1 |
Rs.65.85 |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
---- |
NB |
New Business |
---- |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this report.
The assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any risk
and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its
officials.